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Further investigation into the sustainability of the brazilian federal domestic debt

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  • Viviane Luporini

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    Abstract

    This paper investigates the sustainability of the Brazilian federal domestic debt using quarterly data from 1981 to 1998. A debt is considered sustainable if the government's budget is intertemporally balanced. Sustainability is tested through the mean-zero stationarity of the discounted debt/GDP ratio with standard unit root tests and the null hypothesis of stationarity. The results indicate that the federal domestic debt have assumed an unsustainable path during the period studied and that the government may indeed have an incentive to reestructure its debt.

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    File URL: http://www.cedeplar.ufmg.br/pesquisas/td/TD%20131.doc
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    Bibliographic Info

    Paper provided by Cedeplar, Universidade Federal de Minas Gerais in its series Textos para Discussão Cedeplar-UFMG with number td131.

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    Length: 26 pages
    Date of creation: 2000
    Date of revision:
    Publication status: Published (in Portuguese) in Análise Econômica, 2001, vol. 36.
    Handle: RePEc:cdp:texdis:td131

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    Postal: Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil

    Related research

    Keywords: Federal debt; fiscal consolidation; Brazil;

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